José Filomeno dos Santos, the son of Angola’s veteran president, has rebuffed criticism of his appointment as chairman of the oil-rich nation’s nascent $5bn sovereign wealth fund, insisting it will be run transparently as it prepares to start deploying its cash.
Angola launched the fund, one of Africa’s largest, in October. Mr dos Santos was named as the fund’s chairman last month in a move that raised concerns about nepotism as Angola joins other African oil-producers, including Nigeria and Ghana, in establishing a fund for future generations...............................................Full Article: Source